Common law of contracts refers to contract law developed primarily by state courts

Under the Secured Transactions Article of the UCC, which of the following remedies is available to a secured creditor when a debtor fails to make a payment when due?

Proceed against the collateral Obtain a general judgment against the debtor A. Yes, Yes B. Yes, No C. No, Yes D. No, No

A transaction collapses after the buyer makes an offer and the seller accepts the offer. Which of the following forms would be appropriate to use to ensure that the parties legal duties to each other have terminated?

A. Contract Amendment B. Contract rescission C. Counteroffer D. Contingency